Islamic finance
E27187
Islamic finance is a system of banking and financial practices that complies with Islamic law, emphasizing risk-sharing, asset-backed transactions, and the prohibition of interest (riba) and excessive uncertainty (gharar).
Observed surface forms (1)
| Surface form | Occurrences |
|---|---|
| Islamic economics | 1 |
Statements (51)
| Predicate | Object |
|---|---|
| instanceOf |
banking system
ⓘ
financial system ⓘ |
| alternativeTo | conventional finance ⓘ |
| appliesTo |
Muslim-majority countries
ⓘ
non-Muslim-majority countries ⓘ |
| basedOn |
Islamic law
ⓘ
Sharia ⓘ
surface form:
Shariah
|
| corePrinciple |
asset-backed financing
ⓘ
avoidance of speculation ⓘ avoidance of unethical industries ⓘ link to real economic activity ⓘ profit and loss sharing ⓘ prohibition of excessive uncertainty ⓘ prohibition of gharar ⓘ prohibition of interest ⓘ prohibition of maysir ⓘ prohibition of riba ⓘ risk sharing ⓘ |
| emergedInModernForm | 20th century ⓘ |
| expandedSignificantly |
early 21st century
ⓘ
late 20th century ⓘ |
| governedBy |
Islamic scholars
ⓘ
Shariah supervisory boards ⓘ |
| hasSector |
Islamic asset management
ⓘ
Islamic banking ⓘ Islamic capital markets ⓘ takaful ⓘ |
| objective |
avoid exploitation in financial contracts
ⓘ
promote equitable distribution of wealth ⓘ promote social justice in finance ⓘ |
| prohibits |
financing of adult entertainment
ⓘ
financing of alcohol industry ⓘ financing of conventional weapons of mass destruction ⓘ financing of pork-related products ⓘ fixed or guaranteed interest payments ⓘ gambling-related transactions ⓘ pure monetary speculation ⓘ |
| relatedConcept |
Islamic finance
self-linksurface differs
ⓘ
surface form:
Islamic economics
ethical finance ⓘ socially responsible investing ⓘ |
| requires |
real economic purpose
ⓘ
underlying tangible asset ⓘ |
| usesContractType |
ijarah
ⓘ
istisna ⓘ kafalah ⓘ mudarabah ⓘ murabaha ⓘ musharakah ⓘ salam ⓘ wakalah ⓘ |
| usesInstrument | sukuk ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
Islamic economics